Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 19,990 Balance per company records
The following data were gathered to use in reconciling the bank account of Photo Op. Company:
Balance per bank | $ 19,990 |
Balance per company records | 16,685 |
Bank service charges | 95 |
Deposit in transit | 2,950 |
NSF check | 1,090 |
Outstanding checks | 7,440 |
Question Content Area
a. What is the adjusted balance on the bank reconciliation? $
Question Content Area
b. Journalize any necessary entries for Photo Op. Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
blank | Accounts PayableAccounts ReceivableCashInterest RevenueNotes Receivable | ||
Accounts PayableCashCash Short and OverInterest RevenueMiscellaneous Expense | |||
Accounts ReceivableCashCash Short and OverInterest RevenueMiscellaneous Expense |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started